Ethereum broke a long downtrend and may rally if it stays above the key $2,400 breakout area
If the $2,400 level holds as support Ethereum could target $3,063 $3,566 and possibly $4,201
Analysts believe the recent price pattern shows potential for a strong continuation in the coming weeks
Ethereum’s price structure is showing signs of a bullish continuation, with $ETH currently trading near $2,581.87 on Binance. Analysts suggest that if the $2,400 breakout zone holds as support, Ethereum could target $3,063 next, followed by $3,566 and $4,201. The recent price action follows a clear breakout above a descending resistance trendline that has been intact since early 2025.
Source: X Price Structure Signals Continuation After Breakout
A recent chart shared by trader Rose P. highlights Ethereum’s potential for a sustained uptrend after breaking above its multi-month downtrend. The chart shows Ethereum decisively breaching a descending trendline in early May, followed by a sharp move upward. This breakout has shifted sentiment, with many traders closely watching the $2,400–$2,500 range for signs of a retest.
Technical analysis indicates that this range was previously a resistance zone and may now act as a support base. If ETH finds strong buying activity in this area, a bullish retest could validate the move. Traders often look for such retests as confirmation before major trend continuation.
Rose P. noted in her May 14 tweet that the “chart structure suggests a bullish retest before resumption of the uptrend.” This perspective is aligned with historical patterns, where breakouts above long-standing trendlines often trigger a sequence of higher targets once a retest confirms support.
Key Ethereum Price Targets Identified
According to the same analysis, the next critical price levels for Ethereum are clearly marked. The first key target is $3,063.04, followed by a secondary target at $3,566.88. A final target, should momentum sustain, is outlined at $4,201.14.
These levels are not arbitrary. Each corresponds with areas of past consolidation, volume nodes, and potential psychological resistance. Reaching $3,063 would represent an increase of nearly 19% from the current trading price.
The higher targets at $3,566 and $4,201 suggest that ETH may be entering a broader trend reversal phase. These projections depend on Ethereum maintaining the recent breakout zone as support, particularly through potential pullbacks.
Can Ethereum Maintain Momentum Toward $4,201?
As Ethereum approaches a potential bullish retest of its breakout level, market participants are asking one key question: Can this breakout drive a full rally to $4,201?
The chart’s pattern indicates a possible dip to the former resistance zone, now turned into support. If this level holds firm, it may provide the launchpad for Ethereum’s next upward leg. The previous breakout zone’s stability could determine whether the next wave reaches $3,063 or extends further.
Momentum traders are watching price action closely for confirmation of strength. A bounce off the support zone could reignite buying pressure across retail and institutional levels. If volume increases near the lower end of the retest range, it may serve as a validation point for continued gains.
